Boer Power receives strong demand for Hong Kong IPO

The deal is multiple times covered by institutional investors, while Hong Kong retail investors subscribe to 341 times the shares earmarked for them, according to sources.

Boer Power Holdings, a Chinese electrical distribution systems and solutions provider, has raised HK$1.19 billion $154 million from a Hong Kong initial public offering to expand its sales network, construct new production capacity and purchase equipment.

The deal received strong demand from both institutional and retail investors during the offering period, which lasted just over one week the institutional bookbuilding opened on October 4. The institutional tranche was multiple times covered and the Hong Kong public offering...